DMCI’s construction orders fell 10% to P9.5 billion in Q1
By VG Cabuag -
MAY 16, 2017
DM Consunji Inc., the construction arm of DMCI Holdings Inc., on Tuesday said its order book of projects reached P9.5 billion for the first quarter of the year, 10 percent lower than last year’s, as the company saw a modest increase in its books.
DMCI’s first-quarter construction order book brought its total to P30 billion.
Among its newly signed projects are the Cavite-Laguna Expressway project of MPCALA Holdings Inc., the Bued Viaduct and Roadway of Private Infra Development Corp., the Light Rail Transit Line 2 (LRT 2) East (Masinag) Stations under the Department of Transportation, and the thermal-power plant of JGC Philippines. Meanwhile, major ongoing projects include Sections 1 and 2 of the Metro Manila Skyway Stage 3 project of Citra Central Expressway Corp., Citygate mixed-use development in Makati, The Royalton and Imperium luxury condominiums of Ortigas and Co., The Areté of Ateneo de Manila University and NCCC Mall of LTS Malls Inc.
Major infrastructure projects— the Ninoy Aquino International Airport (Naia) Expressway, LRT 2 East (Masinag) Viaduct and The Runway connecting the Naia Terminal 3 to Resorts World Manila, were all completed in 2016.
On a stand-alone basis, DMCI, the construction firm, recorded a net income P259 million from January to March, up 19 percent, from the P219 million it made in the same period last year.
“We foresee modest growth this year, which will come mostly from building and infrastructure contracts. The real game-changer would be the rollout of infrastructure projects by the government. If these projects push through as scheduled, then Filipino contractors stand to gain from the construction activities,” DMCI construction President Jorge A. Consunji said.
